The Delaware Supreme Court ruled on Monday in a long-running dispute involving Viking Pump’s and Warren Pumps’ claims for recovery under primary, umbrella, and excess insurance. The Delaware high court had certified two questions to the New York Court of Appeals. The Delaware decision follows the New York high court’s ruling in May that the policies required “all sums” allocation and “vertical” exhaustion” (click here and here for prior posts).
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Umbrella Insurance
Fifth Circuit: Indemnity Possible Even Where No Defense Owed
By Michael S. Levine on
A federal appeals court ruled on Wednesday that the absence of a duty to defend does not foreclose the potential for indemnity coverage under primary and umbrella liability policies. The decision in Hartford Casualty Insurance Co. et al. v. DP Engineering LLC, stems from a March 31, 2013, incident where an industrial crane collapsed at a nuclear generating facility near Russellville, Arkansas, causing significant damage and injuries, including one death.
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Hunton Partner Syed Ahmad Speaks on NY “All-Sums” Decision
By Michael S. Levine on
Posted in Excess Insurance, General Liability
As a follow-up to my post yesterday concerning the New York Court of Appeals’ decision in In the Matter of Viking Pump, Inc. and Warren Pumps, LLC, Insurance Appeals, where the New York high court confirmed that policyholders may allocate all amounts of loss to a single policy and a single policy year, Syed…
NY High Court Says “All Sums” and “Vertical” Exhaustion Apply to Excess Coverage for Asbestos Liabilities
By Michael S. Levine on
Posted in Excess Insurance, General Liability
On Tuesday, May 3, 2016, the New York Court of Appeals held that each of several excess liability insurers can be wholly responsible for the entire extent of their policyholders’ asbestos liabilities. The Court further held that “vertical” exhaustion would apply; rejecting the insurers’ attempt to apply “horizontal” exhaustion before upper-layer policies must respond. The decision, in In the Matter of Viking Pump, Inc. and Warren Pumps, LLC, Insurance Appeals, comes in response to two questions certified from the Delaware Supreme Court:
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Continue Reading NY High Court Says “All Sums” and “Vertical” Exhaustion Apply to Excess Coverage for Asbestos Liabilities